GoPro Shares Are Exploding Higher (GPRO)

Published 10:47 am, Friday, June 27, 2014

Shares of the wearable camera company were up more than 20% in mid-morning trade, a move that follows yesterday's 30% advance.

On Wednesday night, shares of GoPro priced at $24 in their initial public offering, valuing the company at about $3 billion.

Yesterday, shares of GoPro closed above $31, and at midday Friday, the stock was trading at about $38 bringing its market cap to more than $4.6 billion.

According to its prospectus filed with the SEC, GoPro earned $0.47 per share in 2013, making the company's price to earnings ratio, or roughly how much investors have to pay for each $1 of earnings, about 81 at its current share price.